Friday, September 26, 2025

Your Richest Inheritance Is Right Here

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Your Richest Inheritance Is Right Here

Alexander Green, Chief Investment Strategist, The Oxford Club

Alexander Green

This week, I'm on The Oxford Club's Wealth, Wine, & Wisdom Tour of Greece.

Aside from 32 intrepid Oxford Club Members, we're joined by Dan Weiss, the former head of the Metropolitan Museum of Art and author of Why the Museum Matters, and led by the estimable Fritz Satran, an Epicurean philosopher, international bon vivant, and good friend.

Along the way, we've discussed world financial markets and wealth creation. (After all, some of us plan to write this trip off.)

We're discovering that Greek wines are surprisingly good, even if they don't compare with the best of France or Italy.

Yet why is this a "wisdom" tour?

Because - aside from a thoroughly enjoyable experience - that's what many of us are here to attain.

It's often said that there is nothing sadder than someone who has lost his memory.

He doesn't know who he is, where he came from, or what he stands for.

How tragic, then, that so many of us in the West have amnesia about the magnificent Western tradition that we've inherited.

Approximately 90% of students graduate from four-year colleges without taking a single course in "Western Civ."

Many struggle to even understand what civilization is.

It is, of course, a complex system of customs, practices, and beliefs that bind a society together over a long period of time.

We are not civilized because we have indoor plumbing, Wi-Fi, and haut cuisine.

We are civilized because our (admittedly imperfect) culture has been designed - through centuries of trial and error - to promote widespread human flourishing.

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In the 1960s, however, Western history began to be "decentered" in most universities.

Academics and intellectuals launched a highly successful campaign to portray the West as uniquely evil - disfigured by slavery, racism, colonialism, militarism, economic exploitation, environmental degradation, and the patriarchal oppression of women - so they could promote their own imagined utopias.

The effect, if not the goal, of this movement is to make Westerners ashamed of the cultural inheritance that our ancestors fought so hard to hand down to us.

What is that inheritance, exactly?

As we're here in Greece to reconnect with our Greco-Roman heritage, let's consider that question:

  • Language: More than 60% of English words have Greek or Latin roots. The technical language of medicine is still based on Greek. And common law is still full of Latin words and phrases.
  • Literature: Comedy, tragedy, and the novel were all pioneered by the Greeks. They also invented epic and lyric poetry.
  • Philosophy: Western metaphysics goes back to 5th century B.C. Greece. It emphasizes argument and proof over superstition and arguments from authority.
  • Science and technology: The scientific method was invented during the Enlightenment. But measurement, experimentation, and replication are based on mathematics. And the Greek invented mathematics.
  • Government and law: Many Americans believe that democracy was born in 1776. It was actually created in Athens almost two millennia earlier. And the rule of law - the conviction that the legal system should provide equal justice to everyone - was the creation of Roman jurists.
  • The arts and music: The classical language of architecture was invented by the Greeks and creatively adapted by the Romans. The Western tradition of sculpture began with the Greeks. And while little ancient music survives, the tonal system of Western Music goes back to Gregorian chant. Ancient Greek musical drama also gave rise to opera in the late 16th century.
  • Faith and spirituality: We still live in a world created by ancient religion. The Orthodox and Roman Catholic Churches are the only human institutions to have survived continuously from the ancient world to the present.
  • Wealth and prosperity: The ancient world has little to teach us about money. (Although try managing your money without math.) Scottish Enlightenment philosopher Adam Smith - author of The Wealth of Nations - showed the world that capitalism is not a zero-sum game where one person benefits at the expense of another, but that voluntary transactions lead to mutually beneficial outcomes.

It's unfortunate that so many students have become not just indifferent to our cultural inheritance but hostile toward it.

As historian James Hankins writes in The Golden Thread, "To condemn the whole Western tradition as 'fundamentally flawed,' as some do today, is a sign of colossal ignorance or of malicious fanaticism - or both."

Loyalty to our own traditions, of course, should not blind us to the achievements - and weaknesses - of others.

Ancient China had a long and successful history in the art of peaceful government.

Hindus and Buddhist societies promoted moral self-cultivation centuries before the Bible was written.

And Islamic countries had a serious public commitment to charity long before European countries did.

Aside from educational shortcomings, we should be aware of how political polarization and the erosion of civil discourse have weakened our moral center over the past few decades.

One could make the case that the West today in many ways is less civilized than it was a half century ago.

Still… an educated person should know how the magnificent achievements of the past have led to the high level of peace and prosperity we enjoy today.

We need to understand how some civilizations improved in the past and others fell into ruin.

Only then can we improve our own society, protect it from internal problems, and ward off external threats.

In Monday's column, I'll have a few final thoughts on our Oxford Club trip to Greece and explain why "We are all Greeks now."

Good investing,

Alex

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